According to the Oxford Online Dictionary, "tune-up" means to adjust an engine or mechanism to operate at peak efficiency. What are the exact recent tax law changes which impact the preparation of 2021 tax returns? There are plenty affecting Forms 1040, 1065, 1120S, 1041, 1120, 941, and so on. This course dives into 2021 law changes and tunes you up to make you a well-operating machine for tax season.

Learning Objectives:

• Recognize the impacts of recent legislation—Con App 21 and Rescue Act (ARPA)—on 2021 returns and changes to IRS forms


• Outline the changes in requirements for Form 1065 K-1 tax capital account reporting


• List examples on how to complete Forms 941 and 941-X for employee retention credit and the nuances in completing Schedules K-1 (for 1065, 1120S, and 1041)


• Determine the IRS practice considerations such as protecting statutes of limitations and other deadlines